By Thapelo Molefe
KwaZulu-Natal Premier Thamsanqa Ntuli has painted a dismal picture of the province’s state of finances.
It is grappling with a staggering R10 billion owed to service providers, alongside a projected overspend of R9.7 billion for the current financial year.
“The 6th Administration had tried not to slip into an overdraft position at the end of the 2023/24 financial year, however, service providers are owed R10 billion and this will require an average of R150 million budget cuts over the next seven years, starting form 2025/2026 financial year to have a positive cash flow,” he said on Tuesday.
“We entered the 2024/2025 financial year with a R5,5 billion as accruals, payable in the current cash flow, that is putting pressure on the fiscus in this current period.”
Marking his 100 days in office, the premier outlined the challenges in the province and the progress since his administration began.
“KwaZulu-Natal
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